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(In the UK) an investment scheme whereby personal investors could invest a limited sum each year in shares or unit trusts in British companies without liability for tax on dividends or capital gains (closed to new subscriptions in 1999, when replaced by the ISA)

(In the UK) an investment scheme whereby personal investors could invest a limited sum each year in shares or unit trusts in British companies without liability for tax on dividends or capital gains (closed to new subscriptions in 1999, when replaced by the ISA)